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Child Tax-Exempt Savings Plans

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Did you know that Children's Tax-Exempt Savings Plans (TESPs) also provide a long-term, tax-free way to save for your children's future?


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Report confirms women are paying twice as much for cuts

Date: 07 September 2010


After the government’s programme of spending cuts were accused of being sexist by the Fawcett Society last month, London mayoral hopeful Ken Livingstone has also attacked the Budget as declaring a “war on equality”. Livingstone, Labour candidate hopeful for the 2012 mayoral elections, published a report showing that women in London are paying twice as much as men for the spending cuts.

Cuts in housing benefit and pension changes were one of the main areas unfairly affecting women, the report showed, along with cuts in child benefits and family tax credits. The document, titled A Mayor for Equality, claims that women are paying for 66% of the cuts in London.

In addition, Livingstone cited planned cuts to public sector jobs as being unfair on women, who make up 65% of the workforce. He argued that if public services were cut, women would be forced to fill roles such as caring for family.

Livingstone has pledged to place equality at the heart of his mayoral programme, with planned measures to improve the quality of life for the 3.8 million women in London. Skills training, tackling the sex industry, and an alliance to support London’s 600,000 carers are some of the steps he hopes to take to address inequality.

Rival Labour candidate Oona King has also outlined her policy on women’s equality, which will include appointing an equalities adviser to crack down on equal pay audits, and a drive to reduce prostitution and trafficking.

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Interesting Fact

Child Tax Exempt Savings Plans (TESPs) are an efficient and simple way to save for your child, and Shepherds Young Saver Plan lets you put away more per month than any other TESP.

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